Sequoia Capital along with Canaan Partners has invested R35 Cr in location-based mobile advertising platform – Adnear.

The funds raised will used for expansion in to Asia-Pacific region and towards growing the team.

Founded in 2008 by Anil Mathews, Adnear provides based mobile advertising that supports both feature phones and smart phones. It is currently serving in India, Singapore, Australia, and other Asia-Pacific countries.

Adnear's advertising platform is built on hybrid geo-location platform which helps provide location awareness on phones without the need of GPS or operator assistance. AdNear services are currently used by major brands and advertisers including Toyota, Titan, Ford, PizzaHut, Samsung, Nokia and Airtel.

Recently in this space, InMobi, an independent mobile advertising company announced that it was shutting its operations in Africa and Russia.

InMobi recently acquired acquired American mobile application management and distribution company Metaflow Solutions and MMTG Labs.

Mobile application developer - Twist Mobile India Private Limited raised series A investment from Matrix Partners.

Mobile instant messaging and VoIP company – Nimbuzz had also started offering location based advertising on mobile phones in India.

Previous Article

Global Retailer - Esprit To Exit India By Year End

Next Article

Vedanta Issues Bonds To Retire Debt

All Comments

Readers' Recommendations

Post a Comment

Display Name		E-mail
Comment
Comments are moderated and generally will be posted if they are on-topic and not abusive.